Neurogene (NASDAQ:NGNE) Issues Quarterly Earnings Results

Neurogene (NASDAQ:NGNE) posted its quarterly earnings data on Tuesday. The company reported ($1.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.08, Zacks reports.

Neurogene Price Performance

NASDAQ NGNE opened at $21.10 on Wednesday. The business has a 50 day moving average price of $19.33 and a 200 day moving average price of $21.65. The company has a market capitalization of $326.76 million, a P/E ratio of -5.19 and a beta of 1.53. Neurogene has a 1-year low of $6.88 and a 1-year high of $37.27.

Insiders Place Their Bets

In related news, CFO Christine Mikail Cvijic sold 4,045 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $20.81, for a total value of $84,176.45. Following the sale, the chief financial officer directly owned 105,798 shares of the company’s stock, valued at approximately $2,201,656.38. This represents a 3.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stuart Cobb sold 6,797 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $20.81, for a total transaction of $141,445.57. Following the transaction, the insider owned 30,497 shares of the company’s stock, valued at $634,642.57. This trade represents a 18.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 9.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Neurogene

A number of hedge funds and other institutional investors have recently modified their holdings of NGNE. Virtus Investment Advisers LLC boosted its holdings in shares of Neurogene by 128.0% in the 4th quarter. Virtus Investment Advisers LLC now owns 12,716 shares of the company’s stock valued at $262,000 after purchasing an additional 7,138 shares during the last quarter. Logos Global Management LP purchased a new stake in Neurogene during the fourth quarter valued at about $4,017,000. Schonfeld Strategic Advisors LLC acquired a new stake in Neurogene during the fourth quarter worth about $575,000. Trexquant Investment LP raised its holdings in shares of Neurogene by 9.7% in the 4th quarter. Trexquant Investment LP now owns 43,323 shares of the company’s stock worth $892,000 after purchasing an additional 3,840 shares during the period. Finally, Blair William & Co. IL raised its holdings in shares of Neurogene by 15.4% in the 4th quarter. Blair William & Co. IL now owns 163,655 shares of the company’s stock worth $3,371,000 after purchasing an additional 21,835 shares during the period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. HC Wainwright restated a “buy” rating and set a $70.00 price target on shares of Neurogene in a research note on Tuesday, January 13th. Lifesci Capital started coverage on shares of Neurogene in a research note on Monday, January 26th. They issued an “outperform” rating and a $50.00 price objective on the stock. Wall Street Zen cut shares of Neurogene from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Canaccord Genuity Group started coverage on shares of Neurogene in a report on Friday, February 27th. They issued a “buy” rating on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Neurogene in a research note on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.00.

About Neurogene

Neurogene, Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies for rare neurological diseases. The company’s lead platform employs adeno‐associated virus (AAV) vectors designed to deliver functional copies of disease-causing genes directly to the central nervous system. Neurogene’s pipeline focuses on inherited lysosomal storage disorders, including investigational programs for GM1 and GM2 gangliosidoses, with additional preclinical efforts targeting other monogenic neurodegenerative conditions.

Neurogene’s proprietary AAV9‐based delivery system has been engineered to cross the blood-brain barrier, aiming to provide durable gene expression in affected tissues.